Cryptocurrency has a new celebrity supporter in the form of Hollywood star Matt Damon, who is the face of a new Crypto.com commercial.
The 51-year-old star of the Bourne franchise is the star of the platform’s latest ad campaign, ‘Fortune Favours the Brave,’ in which he takes a historical tour of remarkable people who have made a difference in the world.
Matt Damon builds up to introduce Crypto.com in the 60-second commercial, produced by Academy Award winner Wally Pfister, as he talks about individuals being “their bravest selves.”
Over the weekend, the campaign was unveiled in more than 20 countries starting with Fox Sports. Following celebrity endorsements from Stephen Curry, Kim Kardashian, and Tom Brady, it signals a significant shift in cryptocurrency advertising, as well as the introduction of some heavyweight Hollywood firepower.
Crypto.com has been operational since 2016, and has over 10 million customers, despite being presented to many newcomers for the first time through the advertisement.
Matt Damon’s support for cryptocurrency came in the form of a donation from crypto.com to Damon’s non-profit organisation Water.org, which works to provide clean water and sanitation to those in need throughout the world.
Crypto.com is said to have donated $1 million to the cause.
“The timing of this campaign coincides with the early stages of mainstream adoption of cryptocurrency, something we’ve been hard at work to advance since our founding five years ago,” said Kris Marszalek, co-founder and CEO of Crypto.com. “We’re very excited to introduce our company to a global audience, inviting them to our secure platform with a message focused on financial independence and self-determination.”
“Much like what we’re doing with Water.org, Crypto.com is a cryptocurrency platform that shares my commitment to empowering people around the globe with the tools needed to take control of their futures,” Damon said in a statement. “They have built a crypto platform that is accessible and puts people first.”
In an interview with Bloomberg, Damon said, “I’ve never done an endorsement like this. We’re hoping this is the beginning of a great long-term collaboration.”
Actor Ben McKenzie and journalist Jacob Silverman, who are now working on a book about crypto and fraud, call “the Hollywoodization of crypto” a “moral disaster” in a recent op-ed for Slate.
“And for celebrities’ fans, who likely have far less money to lose, it’s potentially a financial one, too,” added Mackenzie and Silverman. “These rich and famous entertainers might as well be pushing payday loans or seating their audience at a rigged blackjack table.”
While signing on as a spokesperson for a rapidly-growing cryptocurrency platform that has also enlisted the likes of mixed martial artist Ronda Rousey, basketball star Carmelo Anthony, and astronaut Scott Kelly (to name a few) may appear less risky than promoting completely unvetted coins and sketchy exchanges, Matt Damon’s campaign makes up for it by being at least three times as insufferable.